Let's start first with the Top 3 PROS of working and living here:
Pro #1: Relatively low tax rate for a First World Country
For example, if your salary is about SGD60k per annum, your tax rate will be equivalent to 3.25% (or SGD1950 per year). Compare to USA tax for USD60k per annum salary, the tax bracket will be at 22% (equivalent to USD13200 per year).
Singapore Tax Rate: Source@ Income Tax SG Gov Website
USA Tax Rate (2018-2019): Source @ Smart Asset
Pro #2: The public facilities are well developed. The place is clean, neat, and safe
Public transportation is well developed, you can get to anywhere using public train (MRT system) and buses. Use this app Singapore Map to navigate around. You purchase and reload the EZlink card to tap on the public transportation. The place is clean, neat, and well maintained despite the crowded population. The government is very serious about enforcing laws for keeping the place clean (no littering, smoking only at designated area), and keeping Singapore a safe place (people are generally not worried about crimes here).
Pro #3: The daily consumables and products are cheap
Products and food are relatively cheap in Singapore if you earn and spend here. For instance, you can get the following prices:
Detergent ~SGD4
Shampoo (pantene) ~SGD6
Food at foodcourt ~SGD3
Basic Clothes ~SGD20
Taxi/ Cab services ~SGD10-25
Monthly phone bill ~SGD30-60
Cut hair ~SGD10-35
Now, let's move to the TOP 3 considerations that you can take into account when considering whether to move here, work here, or live here.
CONSIDERATION #1: You will need a considerably high income to raise a family here, comfortably
Cars are expensive here, as they are imposed a COE (Certificate of Entitlement), which represents the right to vehicle ownership, to use the road for 10 years, after which you will need to scrap your car if you do not renew your COE. The COE prices bidding below is only for the certificate for 10 years, without the cost of the car. Hence, most "commoners" here will take public transport for cost saving.
CONSIDERATION #2: Education for kids is quite pricey
Approximately, child care is about SGD900 and above for office hours care taking, and infant care will be about SGD1500 and above per month. There is subsidy if you are Singaporean of about SGD600 per month. School is competitive to get in, and you often hear about parents having to volunteer so that their kids can get into public school (I've heard of opening car door for others as volunteering work).
CONSIDERATION #3: Land is limited, living can be crowded
Due to the scarce land, living can be quite expensive. As of 2019, the rent for a HDB (government housing flat) small room without a bathroom attached, is about SGD700 and above. A master bedroom with bathroom attached is about SGD1200 and above. To rent the entire house, it cost about SGD2000 and above, to have your own space. You can find housing listing at Property Guru and 99.co.
Government housing/ flat (HDB)
Approximately and overall, SGD8000 per month per household (with kids) may be sufficient to live a decent life with your family with 2 kids.
House renting: SGD2000
Kids Education and expenses (2 kids): SGD3500
Food and Daily Expenses: SGD2000
Public Transportation: SGD200
Utilities/Phone/Internet: SGD400
In conclusion, if you are ready to have some cramping and competition (in public transportation, schooling for your kids, and living place, expensive healthcare), then Singapore is the place for you as you will gain access to the best in class services and systematic environment (top education for your kids, top healthcare services, competitive and skillful work force, safe and clean environment).
Disclaimer: This post is based on personal opinion and experience, it does not represent the view of any organization
Share this post!
Life in singapore
ReplyDeleteI like this post. Quite detailed and base on data. :-)
ReplyDeleteThank you!
Delete